Home prices in 100 Chinese cities inch lower by 0.08% month-on-month (MoM) in December, Invest-Gate.

A survey by the China Index Academy (CIA) shows that prices fell MoM in 68 cities in December, up from 57 cities in November.

CIA’s survey ascribes the decline in home prices in the world’s second-biggest economy to a declined demand aggravated by an increase in COVID-19 cases.

The Chinese property market is suffering, with home prices, sales, and investments shrinking over months.

In mid-December, Liu He, one of the Vice Premiers of the People’s Republic of China, revealed that the government was considering measures to improve the financial condition of the real estate industry and boost confidence in the sector.